Regulatory Agenda: A Look Inside

The president’s Unified Agenda, a guidebook to near and long-term regulatory actions, finally hit the Internet.  The Agenda is a little late, as it’s officially the Fall 2011 regulatory plan. 

The highlights: 138 “economically significant” active (impact of $100 million or more) regulations; 45 significant completed final rules; and, 29 significant long-term actions. 

Here’s a snapshot of economically significant long-term agency actions:

• EPA has five scheduled actions (17 percent): notably, a review of particulate matter air standards, new ozone standards (smog), and a review of ambient air standards for lead.
• FCC surprisingly has seven actions (24 percent): notably, “Broadband Over Power Line Systems,” universal service reform, and an action for “IP-Enabled Services.”
• Department of Labor has six actions (21 percent) scheduled: notably, a proposed rule for grandfathered health plans under the Affordable Care Act (ACA), preventative services under the ACA, and a combustible dust proposal.

Regarding EPA’s 12 economically significant active regulations:

• Cooling water towers: expect a final regulation, judicially imposed, by July 27, 2012.  The proposed rule, a significant improvement over mandated closed-cycle towers, was expected to cost roughly $5 billion during the immediate life of the rule.
• Diisononyl Phthalate: the likely result of this regulation is the removal of millions of toys deemed “toxic.” Phthalates are chemicals added to plastics, and while not acutely dangerous to children, expect large costs once the rule is final.
• Greenhouse gas standards for new stationary sources: a notice of proposed rulemaking is scheduled for January 2012, consistent with Gina McCarthy’s (of EPA) public statements.  Expect a final rule this June.
• CAFE standards for cars, light-duty trucks: the $141 billion rule that could drive up vehicle prices by more than 19 percent is scheduled for final action by August 2012.

President’s Agenda in Perspective:

• Last night the president claimed, “I’ve approved fewer regulations in the first three years of my presidency than my Republican predecessor did in his.”  Based on his last three Unified Agenda’s, President Obama has an average of 142 economically significant active regulations.  Four years ago, President Bush averaged 90 economically significant active measures, or 57 percent fewer than President Obama.
• In addition, last night the president claimed 500 announced reforms.  However, a search of his agenda reveals just 360 regulatory reform proposals, a 38 percent exaggeration. 
• Finally, tracking proposed or final rules under his deregulatory effort, there are only $1.2 billion in total rescissions, just a fraction of the $10 billion goal.